Daemon Tools Lite, as the name suggests, is a light version of Daemon Tools Pro. The difference between two programs is that some features of the Lite version are locked. However, it takes care of all your virtual management needs. Since I am a casual user, this software worked fine for me.
Daemon Tools Lite is a remarkable piece of software. It offers support for all popular disc images, has one of the cleanest UI, and doesn't use much of your system resources. It performs the tasks efficiently and supports a large number of formats, even allowing conversions between them. If you use files such as ISO, ZIP, CUE, VDI, ISCSI, and lesser known CCT or BWT, this is the perfect tool for you. You can mount any of these files and get your job done.
This tool can also create a copy of a physical disc, provide compression and encryption for your disc copies, create and emulate drives and mount disc images onto them. Mounting a file is a simple task. To mount a file, in the main window click on the plus sign on the top-right panel, then browse for the file and select it. The file will be mounted automatically. You can also configure a default folder for your images. This default folder will be scanned by Daemon Tools Lite and your images will be auto-mounted. However, performing other tasks such as creating and converting of data/audio image (1), burning discs (2), creating bootable USB (3) will require you to purchase the Pro version.
I have been using Daemon Tools Lite for some time and it has become my favorite. I recommend it for those users who want to mount different images, emulate virtual drive or want to create a copy of a physical disc. For others, the Pro version offers all the functions that this one lacks.